In October 2024,Jones Computer Store purchased, on account,

40 computers for $600 each. The computers were delivered in November. Jones Computer Store paid for three-fourths of this purchase in 2024 and paid the remaining one-fourth in 2025.

Jones Computer Store sold 8 of the computers in 2024 for $900 each. Two-thirds of this cash was collected in 2024 with the remaining one-third collected in 2025. 29 of the computers were sold in 2025 for $1,500 a piece. One-half of these sales were collected in 2025 and the other one-half were collected in 2026.Based on the realization principle and the matching concept calculate the amount of gross profit reported in Jones' 2025 income statement.

In October 2024, Jones Computer Store purchased, on account, 40 computers for $600 each. The computers were delivered in November. Jones Computer Store paid for three-fourths of this purchase in 2024 and paid the remaining one-fourth in 2025. Jones Computer Store sold 8 of the computers in 2024 for $900 each. Two-thirds of this cash was collected in 2024 with the remaining one-third collected in 2025. 29 of the computers were sold in 2025 for $1,500 a piece. One-half of these sales were collected in 2025 and the other one-half were collected in 2026. Based on the realization principle and the matching concept, calculate the amount of gross profit reported in Jones' 2025 income statement